Greater China

CRCC High-Tech Equipment Corp and Modern Dental Group have launched their respective Hong Kong listings to much fanfare as issuers capture the last few opportunities to sell IPOs.

The IMF has approved the renminbi as the fifth currency in its Special Drawing Rights (SDR) basket of currencies with a weighting of 10.92%. The new SDR will come into effect on October 1, 2016.

Credit Suisse has shaken up its top ranks in Asia Pacific, with changes to its equity capital markets, investment banking and private banking units.

The Province of British Columbia (BC) has mandated Bank of China and HSBC as joint leads for its debut Panda bond, Mike de Jong, BC’s Minister of Finance, told GlobalRMB. The deal is expected to launch in January and will be the first Panda from a sovereign credit.

Moody’s launched a public consultation this week as it seeks feedback over its proposed rating methodology for Chinese residential mortgage-backed securities (RMBS).

The Province of British Columbia (BC) has mandated Bank of China and HSBC as joint leads for its debut Panda bond, Michael de Jong, BC’s Minister of Finance, told GlobalRMB. The deal is expected to launch in January and will be the first Panda from a sovereign credit.

Investors poured into Tianjin Free Trade Zone Investment Holding Group’s (Tianjin FTZ) debut dollar bond this week, helping the state-owned company raise $500m with a more than seven times covered order book.

Standard Chartered (StanChart) has cut its Americas and Europe RMB solutions teams in recent months, according to a source. The bank has recently begun a global restructuring process.

Tsinghua Unigroup started taking bids for a dual-tranche dollar offering on Thursday, which if printed would be the first offshore bond from the issuer.

A symbolic rather than market changing move is the general view of the renminbi’s inclusion into IMF’s Special Drawing Rights (SDR) basket. However, many analysts believe impact could be profound if China is willing to take the real test reforming its domestic financial markets.

China Tian Lun Gas Holdings has increased the size of its loan to $250m from the launch size of $150m as strong demand from banks led to an oversubscription.

China Energy Engineering Corp is guiding investors toward the lower half of the indicative range of its HK$15.22bn ($1.96bn) IPO in Hong Kong as bookbuilding headed to a close on Wednesday.